Deep Dive: Here are the stocks that powered the Dow after the Fed’s Powell soothed investors

Call it the Powell rally.

The Dow Jones Industrial Average rose 618 points, or 2.5%, to close at 25,366 points Wednesday after Federal Reserve Chairman Jerome Powell signaled a possibly slower approach to raising interest rates.

During a speech before the Economic Club of New York, Powell said interest rates were “just below the broad range of estimates of the level that would be neutral for the economy.” The Federal Open Market Committee, the Fed’s policy-making body, has raised the federal funds rate three times this year to the current range of 2% to 2.25%, and decided on Nov. 8 to leave the rate unchanged. The next FOMC rate announcement is expected on Dec. 19.

More on the Fed: Why economists insist Powell wasn’t as dovish as the market thinks

Michael Brush believes a change in policy by the Fed is one of two likely events that will cause stocks to resume their upward climb.

The Dow Jones Industrial Average

DJIA, +2.50%

 was down 6.5% from the end of October through Nov. 27, while the SP 500 Index

SPX, +2.30%

 was down 8%, and the Nasdaq Composite Index

COMP, +2.95%

 was down 12%. On Wednesday, while the Dow rose 2.5%, the SP 500 was up 2.3% and the Nasdaq was up 3%.

All 30 components of the Dow were up Wednesday, except for Verizon, which fell 1%. Caterpillar

CAT, +4.95%

 led the benchmark index, showing the strongest gain of 5%, followed closely by Boeing

BA, +4.86%

which was up 4.9%.

Here’s how all 30 Dow stocks performed Wednesday:

Company Ticker Price change – Nov. 28 Price change – November Price change – 2018 through Nov. 28 Price change – 2017 Caterpillar Inc.

CAR, +4.60%

5.0% 7.8% -17.0% 69.9% Boeing Co.

BA, +4.86%

4.9% -6.0% 13.1% 89.4% Visa Inc. Class A

V, +4.02%

4.0% 2.6% 24.0% 46.1% Apple Inc.

AAPL, +3.85%

3.8% -17.3% 6.9% 46.1% Microsoft Corp.

MSFT, +3.71%

3.7% 4.0% 29.9% 37.7% UnitedHealth Group Inc.

UNH, +3.61%

3.6% 7.5% 27.4% 37.8% Nike Inc. Class B

NKE, +3.56%

3.6% -0.5% 19.4% 23.1% Walmart Inc.

WMT, +2.55%

2.5% -2.8% -1.3% 42.9% Chevron Corp.

CVX, +2.54%

2.5% 5.8% -5.6% 6.4% Cisco Systems Inc.

CSCO, +2.54%

2.5% 3.4% 23.5% 26.7% American Express Co.

AXP, +2.52%

2.5% 9.9% 13.7% 34.1% International Business Machines Corp.

IBM, +2.47%

2.5% 6.6% -19.8% -7.6% Home Depot Inc.

HD, +3.04%

2.4% 0.9% -6.4% 41.4% Goldman Sachs Group Inc.

GS, +2.43%

2.4% -12.0% -22.1% 6.4% Johnson Johnson

JNJ, +2.25%

2.2% 4.6% 4.8% 21.3% Walt Disney Co.

DIS, +1.93%

  1.9% 1.1% 8.0% 3.2% Pfizer Inc.

PFE, +1.88%

1.9% 4.3% 24.0% 11.5% 3M Co.

MMM, +1.82%

1.8% 7.4% -13.2% 31.8% Exxon Mobil Corp.

XOM, +1.82%

1.8% -1.5% -6.2% -7.3% McDonald’s Corp.

MCD, +1.74%

1.7% 6.2% 9.1% 41.4% Intel Corp.

INTC, +1.64%

1.6% 4.2% 5.8% 27.3% Walgreens Boots Alliance Inc

WBA, +1.34%

1.3% 6.1% 16.6% -12.3% Merck Co. Inc.

MRK, +1.17%

1.2% 4.9% 37.2% -4.4% JPMorgan Chase Co.

JPM, +1.11%

1.1% 1.8% 3.7% 23.9% Travelers Cos. Inc.

TRV, +0.84%

0.8% 4.5% -3.6% 10.8% Coca-Cola Co.

KO, +0.69%

0.7% 3.8% 8.3% 10.7% Procter Gamble Co.

PG, +0.31%

0.3% 4.9% 1.2% 9.3% DowDuPont Inc.

DWDP, +0.07%

0.1% 6.1% -19.7% 24.5% United Technologies Corp.

UTX, +0.04%

0.0% -1.2% -3.8% 16.4% Verizon Communications Inc.

VZ, -0.97%

-1.0% 5.2% 13.5% -0.8% Source: FactSet

You can click on the tickers for more about each company, including news, charts, ratings, price ratios and financials.

Don’t miss: Utility stocks have beaten the SP 500 in two months of turbulence and in the long run

Create an email alert for Philip van Doorn’s Deep Dive columns here.

Philip van Doorn covers various investment and industry topics. He has previously worked as a senior analyst at TheStreet.com. He also has experience in community banking and as a credit analyst at the Federal Home Loan Bank of New York.

We Want to
Hear from You

Join the conversation

الموقع يستعمل RSS Poster بدعم القاهرة اليوم